Olive Secures $6 Mil.

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By: E&P Staff

Olive Software Inc. of Denver has secured a $6 million investment from Sequoia Venture Capital. Milestone International LLC acted as adviser to Olive in this expansion funding deal.

A provider of content management, electronic publishing and archiving technologies, Olive will use the funding to expand sales, marketing and product development. The Olive ActivePaper product is used by newspapers to publish interactive digital replicas of their print products.

Menlo Park, Calif.-based Sequoia is a leading venture capital firm, having invested in hundreds of companies, including Apple, Cisco, Yahoo and Google.

Last week, Olive announced that it would provide electronic publishing services to Cox Ohio Publishing, a unit of Cox Newspapers Inc.; and 21st Century Newspapers of Michigan.

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